Figure Technology Solutions, Inc. (NASDAQ:FIGR) Given Average Rating of “Moderate Buy” by Brokerages

Figure Technology Solutions, Inc. (NASDAQ:FIGR) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $50.6250.

Several brokerages have issued reports on FIGR. Mizuho raised their price objective on shares of Figure Technology Solutions from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Piper Sandler decreased their target price on Figure Technology Solutions from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Weiss Ratings raised Figure Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Wall Street Zen upgraded Figure Technology Solutions from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Keefe, Bruyette & Woods lowered their price objective on Figure Technology Solutions from $55.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th.

Insider Activity

In related news, CFO Minchung Kgil sold 9,117 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $30.06, for a total value of $274,057.02. Following the transaction, the chief financial officer directly owned 507,651 shares in the company, valued at approximately $15,259,989.06. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Todd Stevens sold 47,650 shares of Figure Technology Solutions stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $31.38, for a total transaction of $1,495,257.00. Following the completion of the sale, the insider owned 376,599 shares of the company’s stock, valued at $11,817,676.62. This trade represents a 11.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 80,767 shares of company stock worth $2,542,154 over the last 90 days. 26.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Figure Technology Solutions

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new position in Figure Technology Solutions in the 4th quarter valued at $25,000. Strs Ohio acquired a new stake in shares of Figure Technology Solutions during the 4th quarter worth $34,000. MetLife Investment Management LLC acquired a new stake in shares of Figure Technology Solutions during the 4th quarter worth $35,000. WPG Advisers LLC increased its position in shares of Figure Technology Solutions by 71.1% in the first quarter. WPG Advisers LLC now owns 934 shares of the company’s stock worth $32,000 after purchasing an additional 388 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in Figure Technology Solutions in the fourth quarter valued at about $41,000.

Figure Technology Solutions Price Performance

Shares of FIGR opened at $33.19 on Thursday. The firm has a market capitalization of $6.16 billion and a PE ratio of 35.69. The company’s 50-day moving average is $31.46 and its 200-day moving average is $32.72. Figure Technology Solutions has a fifty-two week low of $24.11 and a fifty-two week high of $78.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.86.

Figure Technology Solutions (NASDAQ:FIGR) last announced its earnings results on Thursday, August 13th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Figure Technology Solutions had a net margin of 33.45% and a return on equity of 18.90%. The business had revenue of $218.45 million during the quarter. Equities analysts forecast that Figure Technology Solutions will post 1.18 EPS for the current year.

About Figure Technology Solutions

Figure is building the future of capital markets using blockchain-based technology. Figure’s proprietary technology powers next-generation lending, trading and investing activities in areas such as consumer credit and digital assets. Our application of the blockchain ledger allows us to better serve our end-customers, improve speed and efficiency, and enhance standardization and liquidity. Using our technology, we continue to develop dynamic, vertically-integrated marketplaces across the approximately $2 trillion consumer credit market and the rapidly growing approximately $4 trillion cryptocurrency and digital asset market.